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Westminster Economic Developmentinitiative Inc

EIN 20-4230463 · Buffalo, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood78 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

WEDI STRENGHTENS COMMUNITIES THROUGH A CONTINUUM OF EDUCATIONAL AND FINANCIAL RESOURCES FOR ALL WESTERN NEW YORKERS.

Income
$2.2 million
Spending
$2.2 million
Spent on programs
72%
Reserves
49.7 months of spending
Largest source of income
government grants, 69%
Employees
53
Volunteers
50
Highest pay
$95,920, executive director

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 78 out of 100. Higher than 58% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    35 of 35

    Spendable reserves would cover 49.7 months of spending.

  • Debt

    20 of 20

    It owes 14% of what it owns.

  • Living within its means

    8 of 15

    Spending exceeded income by 1% of income.

  • Income trend

    0 of 15

    Income fell 69% on the year before.

  • Spending floor

    15 of 15

    72% of spending went to programs and raising each dollar of donations cost 12 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 68% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    25 of 25

    14 of 14 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (4)
  1. $426,110 spent. COMMUNITY DEVELOPMENT - WEST SIDE BAZAAR AND DOWNTOWN BAZAAR SMALL BUSINESS INCUBATOR LOCATED IN GROWING COMMERCIAL DISTRICTS IN BUFFALO, NEW YORK. WESTMINISTER ECONOMIC DEVELOPMENT INITIATIVE (WEDI) IS DEDICATED TO OFFERING MERCHANTS A STABLE AND AFFORDABLE ENVIRONMENT TO GROW THEIR "GRASSROOTS" BUSINESSES. WEDI IS COMMITTED TO OFFERING CLIENTS BUSINESS COACHING, FINANCIAL MENTORING, LOW INTEREST LOANS, NETWORKING/MARKETING OPPORTUNITIES, AND STEADY CUSTOMER TRAFFIC.
  2. $836,439 spent. ECONOMIC DEVELOPMENT - PROVIDED A COMPREHENSIVE MODEL FOR GENERATING WEALTH FOR MOTIVATED INDIVIDUALS THROUGH THE CREATION OR EXPANSION OF A SMALL BUSINESS. WEDI'S PROGRAM IS UNIQUE IN ITS ABILITY TO PROVIDE A BROAD RANGE OF SERVICES, UTILIZING EXISTING COMMUNITY RESOURCES WHEN AVAILABLE, AND MOLD THE PROCESS TO EACH INDIVIDUAL. THIS IS DONE THROUGH MENTORS, WHO WORK WITH CLIENTS INDIVIDUALLY AND THROUGH PARTNERSHIPS WITH LOCAL ORGANIZATIONS. WEDI CAN PROVIDE A RANGE OF SERVICE FROM BASIC FINANCIAL LITERACY TO SPECIALIZED TRAINING AND TECHNICAL ASSISTANCE. WEDI OFFERS A MICRO LOAN PROGRAM THAT OFFERS SMALL, TARGETED LOANS FOR BUSINESS CREATION OR EXPANSION IN WEDI'S TARGET AREA THAT CAN DIRECTLY RESULT IN INCREASED INCOME AND WEALTH GENERATION.
  3. $315,637 spent. EDUCATION, NURTURE, ENCOURAGEMENT, READINESS, AND GROWTH FOR YOUTH (ENERGY), LAUNCH, AND FOCUSED LEARNING FOR YOUTH (FLY) - THE FOCUS OF THESE PROGRAMS IS TO HELP ENGLISH LANGUAGE LEARNERS (ELLS) SPECIFICIALLY STUDENTS WITH INTERRUPTED FORMAL EDUCATION (SIFE) TO IMPROVE MORE QUICKLY, ACADEMICALLY, AND SOCIALLY THAN THEY WOULD WITHOUT ENERGY, LAUNCH, OR FLY'S INPUT OUTSIDE OF SCHOOL. CHILDREN RECEIVE HOMEWORK AND ACADEMIC SUPPORT, ENJOY A SHARED FAMILY STYLE MEAL AND GAIN ACCESS TO INDIVIDUAL ADULT MENTORS AND TUTORS.
  4. ALL OTHER RELATED REVENUES

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since January 2007.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.